Juniper sells for $6.9m

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Real Estate For Sale

THE Minyama home of troubled property developer Graeme Juniper has sold for $6.9 million, the best price for a Sunshine Coast residential property since the global financial crisis five years ago.

An upbeat Mr Juniper yesterday refused to confirm the sale or discuss the disposal of his portfolio of Mooloolaba retail properties which went on the market in November last year.

But industry sources say the deal on the Minyama home has been done and that an agreement on the sale price for 39 retail tenancies across five properties Mr Juniper developed in Mooloolaba is close.

Selling agent Rem Rafter of CBRE Sunshine Coast, who was vocal about the prospects of a quick pre-Christmas sale of the portfolio when it went to market, has been tight-lipped about the prospects more recently.

The former Queensland rich list high flyer is divesting his Sunshine Coast and North Queensland resort and retail interests as bankers look for payment after the collapse of his 77-level Soul Tower complex in Surfers Paradise.

The development was placed in the hands of receivers PriceWaterhouseCoopers on October 25 last year. Mr Juniper also was sued by giant Victorian construction company Grocon for breach of contract.

The receivers reported steady sales of Soul Tower units through the Christmas holiday period with total sales now topping $34 million.